Your VA Loan Expert: Colorado Mortgage Company

Colorado Mortgage Company stands out as a specialist in VA Loans.

These distinguished loans, backed by the U.S. Department of Veteran Affairs (VA), are crafted especially for eligible veterans eyeing home ownership. What does the VA guarantee entail? It ensures that lenders are safeguarded against potential losses should a borrower default. One of the standout benefits includes the frequent absence of a down payment and typically a more favorable interest rate than found with traditional loans.

Key Advantages of VA Loans:

• Flexibility with interest rates, allowing for negotiation.
• Closing costs that are often on par or even lower than other loan forms.
• Elimination of private mortgage insurance.
• The freedom to pay off the loan early without incurring penalties.
• The option for the mortgage to be "assumed" by a new buyer if the home changes hands.
• Access to counseling and support for veteran borrowers in financial distress or on the brink of loan default.

While VA loans waive the need for mortgage insurance, a funding fee is charged to provide a guarantee against borrower defaults. This fee can be covered upfront by either the buyer or seller or can be incorporated into the loan's principal.

Further enhancing its utility, a VA loan isn’t just for purchasing a home. It can also fund the construction of a new house or facilitate the incorporation of energy-saving modifications like solar panels, energy-efficient heating/cooling mechanisms, and other VA-approved green upgrades.

To embark on the VA loan journey, simply call us today at (719) 357-6601. When you meet with us, ensure you have a Certificate of Eligibility from the VA on-hand to present to make the process more efficient.